Gold Rate Today: Gold Inches Over Rs 1.44 Lakh, Silver Jumps Rs 2,600; Check 24k, 22k Gold Rates

Gold and silver prices soared in the domestic futures market, breaking last week's losing momentum, on a decline in crude prices and a rally in equity markets. Gold contract, August 5 expiry, rose Rs 1,120 to an early high of Rs 1,44,230 per 10 grams as compared to last day's closing of Rs 1,43,106 on Multi Commodity Exchange (MCX). Silver contract, September 4 expiry, escalated over Rs 2,600 to a high of Rs 2,24,749 per kilogram from last closing of Rs 2,22,138 on MCX.

Last seen, MCX Gold was trading at Rs 1,44,123, up Rs 1,017 or 0.71 per cent. MCX Silver was quoted at Rs 2,24,629, up Rs 2,491 or 1.12 per cent.

MCX Gold opened with a mild gap up and is trying to hold above the Rs 1,44,000 mark, reflecting a cautiously positive undertone. Immediate resistance is placed at Rs 1,45,500–Rs 1,46,000, and a sustained move above this zone could strengthen the recovery. On the downside, immediate support is seen at Rs 1,43,500–Rs 1,43,000, followed by the Rs 1,42,000–Rs 1,41,500 support zone," said Ponmudi R, CEO of Enrich Money.

24k, 22k Gold Rate Today

Gold rates for all purity levels jumped in the domestic retail market as well. According to bullion.co.in, 24 karat gold rate today is Rs 1,44,760, while 22 karat gold rate is Rs 1,32,697.
20 karat gold rate today is Rs 1,20,633 per 0 grams, while 18 karat gold rate today is Rs 1,08,570 per 10 grams.

This is a developing story..